17.8$ target

FX:XAGUSD   Silver / U.S. Dollar
519 3 11
There is nice confluence of trendlines / channel /Previous structure / fibo retracement and Harmonic pattern for Silver             on 17.7 / 17.9$ area.
Expecting a spike on this level before end of week.
Comment: target reached. long 17.8
TP 1 18.45
Trade closed: target reached
Do you think it will be bearish all the way down until next year 2017+ ?
+1 Reply
pixi albertwt
Hi albertwt,
That's a good question and atm it's maybe too early (from my side) to say that silver will be bearish until next year. All i can say, is that Silver has completed a weekly shark and hitted 0.618 retracement (see idea below).
Now retracement is in progress. Any weekly close below 17.4 should push down the prices lower but this area 18 / 17.5 is a good place for buyers.
+1 Reply
Cool, thanks for the sharing and explanation mate.
All the best for the trading ahead :-)
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